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1230 Bacardi Court Wake Forest, NC 27587

3 Beds 3 Baths 1,488 sqft Built 1994

$234,999

List Price

$1,370

$1.2K - $1.5K

Rent Est.

PROPERTY INFO

February 12, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1994
  • Price/Sqft : $157.93
  • 4 Days on Market
  • MLS # : 2366413
  • Updated Date : 02/14/2021 at 00:36
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,488 sqft
  • Baths : 2 full , 1 half
Listing Agent

The Carolina Agency Llc

Listing Agent's Description

COMING SOON in Cimarron! Come see this 3 bed 2.5 bath home in one of the most coveted neighborhoods in Wake Forest. This home features granite countertops, hardwood floors, clean carpet, a seamless floor plan and an open backyard all in a quiet cul de sac. Come be a part of this community near shopping, US1 and 401. This home will not last long!

SEE MORE

MARKET HIGHLIGHTS

  • Raleigh-Durham combined metros contribute to 24.1% of North Carolina's state economy i.e. Gross State Product (USMayors.org, 2018)
  • University of North Carolina, Duke University and Davidson University systems drive rental demand
  • Major employers in Raleigh area: IBM, Cisco systems, Fidelity Investments, GlaxoSmithKline, RTI International
  • #7 Best Big City for Jobs 2018 (Forbes, 2018)
  • One of Top 10 cities for Small Business Friendliness (Thumbtack, 2018)
  • Raleigh-Durham combined metros' economy is worth over $137 billion in Gross Metro Product and projected to grow to $146 billion in 2019 (USMayors.org, 2018)
  • Raleigh-Durham combined metros has 65.3% labor force participation rate higher than the national rate of 62.8% (USMayors.org, 2018)

PRICE & RENT TRENDS

Neighborhood: Cimarron

NeighborhoodNIR Market*CityMarket2010Year20002019140k160k180k200k220k240k260k280k300k320k340kPrice in $129k358k

* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR

Neighborhood: Cimarron

NeighborhoodNIR Market*CityMarket2010Year2000 Q22019 Q29001000110012001300140015001600170018001900Rent in $8691937

* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR

SCHOOLS

NAME EDUCATIONAL LEVEL SCHOOL TYPE # OF STUDENTS # OF TEACHERS GREATSCHOOLS RATING
Forest Pines Elementary School Primary Regular 672 45 6
Wake Forest Middle School Middle Regular 1,021 60 4
Heritage High School High Regular 1,910 107 7

Forest Pines Elementary School

  • Education Level: Primary
  • # of students: 672
  • # of teachers: 45
6
GreatSchools Rating

Wake Forest Middle School

  • Education Level: Middle
  • # of students: 1,021
  • # of teachers: 60
4
GreatSchools Rating

Heritage High School

  • Education Level: High
  • # of students: 1,910
  • # of teachers: 107
7
GreatSchools Rating
 

$211,499$258,499$234,999

PURCHASE PRICE

$1,233$1,507$1,370

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,370
EXPENSES Loan Payment -$816
Property Tax -$185
Property Insurance -$56
HOA -$51
Property Management Fees -$119
CASH FLOW
$143

This is the estimated cash flow generated during a typical maintenance-free month. It is recommended that investors set aside 15% of earned rent to cover both maintenance and periods of vacancy.

$234,999

PROJECTED PRICE

$1,370

PROJECTED RENT

0.58%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.78%
Appreciation Year (1-5) 5.6%
Maintenance Year (1-5) 8.00%
Vacancy 7.49%
Length of Stay Years 2

PROJECTED ACCUMULATED WEALTH

30 YEAR PROJECTION

  • Cash Flow
  • Appreciation
  • Principal
11530$0.0$100k$200k$300k$400k$500k$600k$700k$800k

PROJECTED ANNUAL CASH FLOW

11530$0.0$2.0k$4.0k$6.0k$8.0k$10k$12k$14k$16k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$100k$200k$300k$400k$500k$600k$700k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$68,025

INVESTMENT

$68,025

Down Payment
$58,750
Rehab Estimate
$5,750
Closing Costs
$3,525

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 40% down payment or higher enables the proceeds from the asset to cover all costs.

$816

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $58,750
Loan Amount $176,249
See What Happens When You Reinvest Cash Flow

8.58

YEARS SAVED

$27,209

INTEREST SAVED

CASH FLOW REINVESTMENT

The time & interest saved by applying each month's positive cash flow towards loan principal pay down.

  • $1,370

    LIST RENT
  • $0.93

    LIST RENT PER SQFT
  • $1,372

    COMP ESTIMATED VALUE
  • $0.93

    COMP AVG. RENT PER SQFT
Comps Range
$1,300
1$1,3002$1,3703$1,3754$1,4355$1,795
$1,795
RENT COMPS ANALYSIS
  • 1230 Bacardi Court Wake Forest, NC 2
    • 3 beds 3 baths ∙ 1,479 Sqft ∙ Built 1994 3 beds 3 baths ∙ 1,479 Sqft ∙ Built 1994
    • Rent
    • Rent Per SQFT
    •  
    • $1,370
    • $0.93
    •  
  • 309 Tillamook Drive Wake Forest, NC 1
    • 3 beds 3 baths ∙ 1,470 Sqft ∙ Built 1997 3 beds 3 baths ∙ 1,470 Sqft ∙ Built 1997
    LEASED 04/15/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,300
    • $0.88
    •  
  • 506 Tyler Run Drive Wake Forest, NC 3
    • 3 beds 2 baths ∙ 1,443 Sqft ∙ Built 1993 3 beds 2 baths ∙ 1,443 Sqft ∙ Built 1993
    LEASED 03/14/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,375
    • $0.95
    •  
  • 716 Lakeview Avenue Wake Forest, NC 4
    • 3 beds 3 baths ∙ 1,600 Sqft ∙ Built 2000 3 beds 3 baths ∙ 1,600 Sqft ∙ Built 2000
    LEASED 01/17/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,435
    • $0.90
    •  
  • 808 Silver Linden Lane Wake Forest, NC 5
    • 4 beds 3 baths ∙ 1,825 Sqft ∙ Built 1997 4 beds 3 baths ∙ 1,825 Sqft ∙ Built 1997
    LEASED 04/30/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,795
    • $0.98
    •  
PROPERTY LISTING DETAILS
Austin Warmus
1.919.996.9498
The Carolina Agency Llc
Tamara Artist
1.866.250.5610
Homeunion NC, LLC
NCREC #C26317
Triangle Multiple Listing Service ( TMLS)
MLS #: 2366413
Last Updated: 02/14/2021
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